Philly investors exit with IntegriChain sale to Silicon Valley private equity firm - Technical.ly Philly

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Mar. 2, 2016 12:29 pm

Philly investors exit with IntegriChain sale to Silicon Valley private equity firm

The news comes a year after IntegriChain moved its headquarters into Center City.

IntegriChain moved from Princeton into Center City last year to tap the city's talent pool.

(Photo by FlorianKunde via Shutterstock)

A year after moving into Center City from Princeton, healthcare data company IntegriChain is under new ownership.

Silicon Valley private equity firm Accel-KKR bought out IntegriChain’s existing investors, many of which were local, and now own a majority of the company. Terms of the deal were not disclosed. Those East Coast investors were Mt. Laurel, N.J.-based NJTC Venture Fund, New York City-based Milestone Venture Partners, New York City-based Cross Atlantic Partners (not to be confused with the Radnor venture firm that sued Facebook and who has since shut down), and Princeton-based investor Jeff Steinberg’s Redwood Pharma Ventures, which led IntegriChain’s 2011 Series C.

This is Accel-KKR’s first Philadelphia deal, a spokeswoman said.

IntegriChain, which provides data services to pharma companies like Merck and Sanofi, moved into Center City, on the third floor of 8 Penn Center, to help its recruiting efforts. The company has grown from 55 employees to 75 since moving into Philly and plans to hire more — though the company declined to quantify its hiring goals. (They have three job openings listed right now.)

The company is building out additional office space to accommodate growth. It also still has a small, four-person office in Princeton. Here’s a look inside their 11,000-square-foot space during a poker event five days ago:

Our Texas Hold’Em tournament in Center City #philly

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A photo posted by IntegriChain (@integrichain) on

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Juliana Reyes

Juliana Reyes has been covering the Philadelphia tech scene since 2012. She's co-president of the Asian American Journalists Association Philadelphia chapter and a two-time Philadelphia News Award winner for "Community Reporting of the Year." The Bryn Mawr College grad lives in West Philly, likes her food spicy and wears jumpsuits often.

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